Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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I don't read Bloomberg...don't even have a subscription...
Bloomberg TV is on all day every day when I am at home and has been for 20 years or more...
And I do follow internationally acclaimed economists such as Mohammed el Erian and Nouriel Roubini (which is why I've never bought a single crypto...I want to sleep at night (though it wasn't easy last night...)
Looks like today's rise , just might hold.
Hopefully, get back some normality from this week of dread.
Thank you for your constructive respnse Mathers.
I always keep an open mind and may vary even a short term view accordingly.
What spooked me today in the context of yesterday's heavy falls was the whole business of liquidy.
In July 2007 the evaporation of liquidity led me to two fundamental decisions:
I switched my entire pension portfolio into a cash fund, fearing what turned out to be a 40% plus fall in the FTSE.
I entreated the CEO of the AIM property company of which I was GFD to sell all our assets. He declined; I left and a few years later they went bust.
I do get things wrong. Right now our joint portfolio is down over £300k because having decided to liquidate everything except SOLG and GPM, I reentered the market too soon. I am more cautious managing my wife's protfolio and hence she has lost much less than me.
But if you look at March 2020 we were all massively down the pan and lived to fight another day...its just that SOLG is like waiting for Godot...
BHPs/majors own surpluses only become relevant if they take over SOLG.
Can I repeat. I have spent the whole of today researching and watching Bloomberg, including a shockingly naive interview with the UK Treasury Minister (no not Kwasi). The Bloomberg anchors were openly critical.
I also follow Mohammed el Arian closely and he gave a worrying interview today.
Monday and Friday are my major research days and you will have notice that, like DBW, I pst a lot of relevant links.
Of course I can see how my moves might be interpreted, but as I've stated, I cannot move markets even with 600k of sells and I don't waste my time ramping or deramping.
I just honestly and openly share my views, read other sensible constructive opinions and sometimes debate leading to a better understanding for me.
Finally, how can you say I am deramping when I have strongly stated that we are currently holding 1.1 million for a takeover bid(s)...I would have thought that was ramping if anything...?
Always value your comments Lunch and open to constructive challenge rather than moronic...
CODE 1 = RNS
I wouldn't like to be out of this one over the weekend :)
"No one here and I mean no one knows what is happening except for the BOD’s, we can make assumptions but that’s all they are"
Agreed, the only control we have is riding the waves..
Code 1 just popped up well well good timing if your I now ,bad timing Red but your choice tbh ,well lets see if its after bell rns or Monday /Tuesday my theory gla
Red,
Whilst you do talk a good talk, you are doing a u turn on nearly everything you were saying yesterday, maybe people may see that there is a pattern here, I do.
Whatever you hold that’s if you do hold any, I would take your chit chat with a pinch of salt like quite a few on here, you argued so much yesterday and then try in a few lines say why you’ve sold.
Anyway, as none of us are privy to inside information, or have contacts that tell us what’s going on at board level, we should all just hold according to your belief that a bid will come, if you think another outcome will happen then sell as soon as it is reasonable for you to do so.
No one here and I mean no one knows what is happening except for the BOD’s, we can make assumptions but that’s all they are
Good luck to all anyway
Around 20 min
https://youtu.be/TMhJecmH9bQ
If you have followed me in the past you will know that I don't panic and every transaction has a rationale.
The main reason why we have made so much money on two previous occasions and managed to avoid more than a 30% loss on our remaining holdings is because I am constantly researching and taking a view on the whole or at the margin.
What happened yesterday spooked me because there was no specific reason, as indeed there is no specific reason for today's bounce beyond the stock being oversold yesterday.
But also I took on board the view expressed that a streaming deal would not be possible at the present and I now agree with that, leaving no alternative to a deep discount equity issue or simply waiting it out.
My research also got me thinking about funding Alpala. A year ago Ingo was very confident but he's now gone. Was this a major reason?
As Darryl has made clear, Alpala will require a big equity element and whereas Ingo was confident of funding $1 billion or more from streaming deals I can't see that right now.
Of course the only funding need right now is to get through to the end of DFS, but there is also the Cascabel commitmnent given to the Ecuador givernment. By my calculations we may still have to spend $200 million or more before construction begins and that might in part explain why the timetable keeps slipping.
I am, however, optimistic that markets will be very much better this time next year and copper/gold far higher.
If Solgold last that long as an in dependent entoty...which brings us back to the short term funding or, more likely takeover bids...
Shut the door behind you red, let the bigger boys play.
I broke it up into chunks and sold them over a period of 4 hours. Sorry that doesn't help, but the average is probably somewhere around 15.70.
A key factor for all markets is that the dollaris way overvalued. It has to fall.
It is up over 20% against a global basket of currencies in just over 4 months. Why?
It is seen as a safe haven in the light of the Ukraine war.
There is a direct inverse correlation between the dollar and commodity prices which in my opinion is the major reason why the impending copper crisis has not been reflected in prices.
China is buying copper and gold; Russia is buying gold; BRICS are known to be working on a gold backed alternative to the dollar.
Sooner or later the dollar will tank. Sterling has recovered almost all the losse of the past week but of course has much further to go. It is also almost back to the level of 11 days ago against the Euro...lets see if these moves are transitory...
RK- what price did you get for a 600,000 sale?
Thanks for the honesty Red, with a holding that size you have every right to be super prudent. Hope you made a profit there - who dares wins.
Despite our difficult position though, we are still absolutely undervalued at the moment, and i wouldnt discount the possibility of a cheeky lowball bid. Whether it's taken seriously or not, it would certainly bring this party back to life.
Relatively strong finish today - first positive day, it feels, in weeks - and hopefully a sign of a climb back towards 20p starting next week.
RK a fair enough reason why you sold.
I have no issues with that apart from the fact Solg have far more fingers in the pie that you and I do not even know about with regards to funding-one of which either NCM or BHP will double up on their current holdings, which will benefit them ,maybe not us but will be a big boost the share price will happen and maybe this will generate outside interest which is what is needed.
I am not selling- been in too long to miss the big payday.
should add, if BHP get wind of this then they might try and scupper it all by making a bid within the next couple of weeks. Eg before November AGM resolutions are sent out and any special matters of business to be voted on.
4m traded which after yesterdays 12m or so - that's good volume after some very low days. Guess that's what happens when you put a stock into bargain levels. Like selling genuinely rolex's for £500. They get snapped up fast.
I'm expecting a decent sized UT and some after hours action so could see another 10m traded day.
On a side note, if you are planning a cheeky funding move prior to the AGM, then you naturally want to make sure BHP do not have much time to react. That way, when it goes to a vote shareholders can amass in their droves via voting system and BHP will have to offer an alternative and won't have much time.
Think that's what's happening here and why we are seemingly happy to drift along with no news and no funding confirmation.
Oh there's me buy
TESLA1 FILTERED TO OBLIVION-PRICK!!
Just to let you know I've sold all 600k that I bought in the last few days.
After yesterday I was glad to get out at just under breakeven.
Why have I sold?
The SP tanked yesterday on no news beyond people's angst about the going concern statement. That alone wasn't enough to account for 12m share volume.
In addition I've been watching Bloomberg and done some in depth research.
Right now I cannot see any way SOLG can fund beyond a very cheap equity issue. Even then on Bloomberg there was a report that A mining capex has collapsed and B miners are struggling to raise any finance at all.
This is part of a general market malaise where it is being openly discussed that there is a liquidity shortyage across all markets. The last time I became spooked by this was 2007/8 when the Bloomberg 6pm news announced that 'liquidity has evaporated in the markets' which lit the blue touch paper for the 2008 collapse followed by SocGen having to close three funds because they could not liquidate the assets as investors started a run...
And earlier this week we almost had a similar liquidity evaporation. At least the central banks will have learned from 2008, but the massive distortions and volatility especially in the UK were heavily fuelled by derivative action...once again the hedge funds are running the economy and markets and governments seem reluctant to stamp on it. Remember when shorters deliberately attempted to destroy Halifax Bank in a naked greedy attempt to make money.
I've also looked into streaming deals and there are virtually none in recent months and one has to accept that basically these are advances of cash, in other words a subset of financing the miners.
So I cannot see currently how SOLG can raise any cash except at a penal cost at the moment. This may change by the year end, but by then we will have had the AGM.
So why haven't I sold the other 1.1 million?
1 Because that would involve taking losses
2 Because I think the likelihood of at least one takeover bid has increased massively and i would not want to miss out after all these years.
3 Because some experts are calling a reversal in markets with a stellar buying opportunity, they';re not sure just when and as I've said, all boats rise and fall with the tide. Thats also why I am keeping cash on the sidelines in case.
So in conclusion, I still hope to bank big SOLG gains by the year end; I may buy back stock if the price tanks again; but for now I am almost back to the neutral position I have held for the last few weeks, having cut our holdings right down earlier in the year.
happy to respond to any constructive comments but for now I am seeking as always to be transparent in my dealings.
Autobots still at it!!!!,wish they'd do one!!!!!
Up 9.58% on tsx they buying back in
Tesla... You are a winner.
Worst de-ramp of week award, asset's massively hyped on here.
I think, it's more down too .. ten years in the making by a company.
Not on a chat board. . Lol
Still waiting for yours novice £150?